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Quad Candle System

  • #3,041
  • Dec 18, 2018 8:25am Dec 18, 2018 8:25am
Going for a HUGE Gain on the UP Side! USDCAD


Jeff........
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Happily Married to MY College Sweet Heart!
  • #3,042
  • Dec 18, 2018 8:31am Dec 18, 2018 8:31am
https://www.forexfactory.com/showthr...5#post11804695 almost there
Advanced Price Action Trader -MY STUFF IS FREE! JOIN ME!
  • #3,043
  • Dec 19, 2018 4:10am Dec 19, 2018 4:10am
Quoting Jeff59FX
Going for a HUGE Gain on the UP Side! USDCAD Jeff........ {image}
Yes good for a short term long.

Be careful about deeper than expected pullbacks near major handles.

1.35 is such an example.

Masterrmind........
Master your Mind then Master your Trades
  • #3,044
  • Dec 23, 2018 10:14am Dec 23, 2018 10:14am
I would like to wish everyone a Merry Christmas and a Happy New Year and thank Masterrmind for all his teachings.
A good rest is recommended for everyone as we're going to embark in a hopefully legendary 10 years journey
Forex - It's finger lickin' good
  • #3,045
  • Dec 23, 2018 10:37am Dec 23, 2018 10:37am
Awesome, the first post is already taking shape for the Journey!
I think my dream level is going to be 2 and I'm being optimistic, hope I end the first year in profit

"

MT5 Account #2 (Regular deposits)

Account Start Date: 7 JANUARY 2019
Account Start Balance: US$1000
Regular Monthly Deposit: minimum US$1000
Dream Level : 5.

Compounding Projections to create the dream:
1. Compounding a 1K account (with regular deposits of 1000, Tot Inv Cap. = $120K) at 2.84% monthly ==> 1K to 1 Million in ~10 years.
2. Compounding a 1K account (with regular deposits of 1000, Tot Inv Cap. = $116K) at 3.00% monthly ==> 1K to 1 Million in ~9 years 8 months.
3. Compounding a 1K account (with regular deposits of 1000, Tot Inv Cap. = $94K) at 4.00% monthly ==> 1K to 1 Million in ~7 years 10 months.
4. Compounding a 1K account (with regular deposits of 1000, Tot Inv Cap. = $80K) at 5.00% monthly ==> 1K to 1 Million in ~6 years 8 months.
5. Compounding a 1K account (with regular deposits of 1000, Tot Inv Cap. = $48K) at 10.00% monthly ==> 1K to 1 Million in ~4 years.

"
Forex - It's finger lickin' good
  • #3,046
  • Dec 25, 2018 3:38am Dec 25, 2018 3:38am
Quoting pipsandkfc
I would like to wish everyone a Merry Christmas and a Happy New Year and thank Masterrmind for all his teachings. A good rest is recommended for everyone as we're going to embark in a hopefully legendary 10 years journey
Yes and being 5 levels traders have the freedom to choose between levels.

Including the movement to a more suitable level for example at a lower monthly gain.

I will outline a plan on Post 1 later with a structured trading approach.

Have a fantastic festive season and I look forward to trading my level 5 commencing in January 2019.

Masterrmind.........
Master your Mind then Master your Trades
  • #3,047
  • Dec 25, 2018 3:59am Dec 25, 2018 3:59am
MERRY CHRISTMAS to all members and FF staff and this brilliant thread i'm new here...first time replying....i have been reading about the QCS

Special thank you to MASTERMIND .....all the best to you and you family my friend,keep up you good work...very impressed :-)
  • #3,048
  • Dec 25, 2018 4:00am Dec 25, 2018 4:00am
Should I read through all pages or can you direct me to a particular post for the latest or updated chart setup - thank you very much.
  • #3,049
  • Dec 25, 2018 10:53pm Dec 25, 2018 10:53pm
Quoting scsstnt
Should I read through all pages or can you direct me to a particular post for the latest or updated chart setup - thank you very much.
Welcome.

Please start at Post 1 as all information is crucial but be mindful that a few unique trading tools will be provided in early January as upgrades to current tools.

I suggest perusing through the thread and in particular the examples shown of trade setups for both longer term and shorter term since I will be applying both these setups from January 2019 in an aggressive risk controlled format via Level 5.

Trade setups in general will remain similar but any changes are likely to be minor and in any case will be fully outlined.

Masterrmind.......
Master your Mind then Master your Trades
  • #3,050
  • Dec 26, 2018 2:29am Dec 26, 2018 2:29am
No to saxo
No to forex.com

Never ever
  • #3,051
  • Dec 26, 2018 2:50am Dec 26, 2018 2:50am
Quoting volforex
No to saxo No to forex.com Never ever
Thank you for the input, could you please tell me why? They seem reliable? Forex.com for smaller balances acts a dealing desk but I think they're big enough to not put tricks?
Forex - It's finger lickin' good
  • #3,052
  • Dec 26, 2018 4:43am Dec 26, 2018 4:43am
Quoting pipsandkfc
Some journey preparing issues have arrived: I've tried to sign-up with pepperstone and I got rejected since I am new to the investing world. They put on hold my application until 21st Jan where I can resubmit, but I think they'll reject me then as well, since 1 month won't mean a lot in trading experience. So I'm faced with choosing another broker: Saxo Bank - they allow keeping of funds in bonds that can be used as margin for trading - no MT4 to use the OPL but I could use a demo from another broker - acceptable drawing - 2k minimum deposit, this...
Choice of broker can be an issue and more so these days based on country of residence.

PM is perhaps the nicest approach here since broker discussion is not really part of this thread.

However, it is a very important part of the process so I may drop a few names and then simply ask traders to conduct their own due diligence.

The broker forum may provide some information but be very mindful of the information being provided as its possible that much of it is tainted with bias.

Masterrmind.........
Master your Mind then Master your Trades
  • #3,053
  • Dec 26, 2018 4:54am Dec 26, 2018 4:54am
Quoting pipsandkfc
{quote} Thank you for the input, could you please tell me why? They seem reliable? Forex.com for smaller balances acts a dealing desk but I think they're big enough to not put tricks?
Saxo I had account few years ago.really wide spread on news period,too much.It takes my stop loss everytime.Another thing ,they added $4000 to my account without reason so I could trade bigger lots and wipe out my initial deposit.I did not trade I just asked for withdraw all money.They refused and said you dont hava whole balance...
Forex.com Is bad experience with spread.But it was long time ago I had account with them.Always calling..and so on.
Have acc with ICmarkets and very happy now
  • #3,054
  • Dec 26, 2018 11:15am Dec 26, 2018 11:15am
Quoting Masterrmind
{quote} Choice of broker can be an issue and more so these days based on country of residence. PM is perhaps the nicest approach here since broker discussion is not really part of this thread. However, it is a very important part of the process so I may drop a few names and then simply ask traders to conduct their own due diligence. The broker forum may provide some information but be very mindful of the information being provided as its possible that much of it is tainted with bias. Masterrmind.........
Post deleted, sorry for the thread deviation.
Forex - It's finger lickin' good
  • #3,055
  • Dec 27, 2018 12:24am Dec 27, 2018 12:24am
Broker Discussion is best placed in the Broker forum.

Plenty of traders have opinions about brokers be they good or be they bad.

However, such opinions are difficult in most cases to prove as 'non-biased'.

Further, a broker that suits one trader on one side of the planet may not suit a trader on the other side of the planet for a multitude of reasons.

If both traders live in the same country then opinions may have a little more relevance.

Then again both traders are likely to have many differences be it initial deposit, volumes traded per month, rebate preferences and the list goes on.

What I do suggest is that traders read the reviews then approach the brokers sites, FAQ's and send enquiries directly to the broker of concern.

By doing this the trader is more likely to find the 'best fit' from the group of brokers matching their own personal circumstances.

Thank you,

Masterrmind.............
Master your Mind then Master your Trades
  • #3,056
  • Dec 28, 2018 3:21am Dec 28, 2018 3:21am
An update to post 1 has been made:

"Account #2 (MT5)

1. Dream Level:
DL5 (10% monthly compound rate).

2. Invested Capital (initial):
US$1000 (January 7, 2019).

3. Deposit Timeline:
Deposit 1 : US$1000 on Monday February 4, 2019;
Deposit 2 : US$1000 on Monday March 4, 2019;
Deposit 3 : US$1000 on Monday April 1, 2019;
Deposit 4 : US$1000 on Monday May 6, 2019;
Deposit 5 : US$1000 on Monday June 3, 2019;
Deposit 6 : US$1000 on Monday July 1, 2019;
Deposit 7 : US$1000 on Monday August 5, 2019;
Deposit 8 : US$1000 on Monday September 2, 2019;
Deposit 9 : US$1000 on Monday October 7, 2019;
Deposit 10: US$1000 on Monday November 4, 2019;
Deposit 11: US$1000 on Monday December 2, 2019;
Deposit 12: US$1000 on Monday January 6, 2020; and

4. Assigned Risk Per Trade (Max.): 5%

5. Assigned Risk Per Account (Max.): 15%

6. Drawdown (Max DD): 30%

7. Peak To Trough (Equity-Max.): 30%

8. Dream Level Variation:
a) if after a 3 month (calendar) trading period the DL rate has not been met at least once then the next lower DL rate will be applied;
b) the ARPA must be reduced immediately by a factor of 2 (subject to condition 8a) commencing from the start of the next calendar month;
c) if the original DL rate is again met on any future month then the ARPA may be increased up to the applicable maximum.

9. Breaching Drawdown and Peak To Trough limits:
a) if the DD limit is breached then the Risk Per Account must be reduced by a factor of 2 over the following calendar month (penalty month);
b) if the limits are not exceeded during the penalty month then Risk Per Trade may be increased up to the maximum of the applicable DL;
c) should the penalty month limits also be breached then Risk Per Trade must again be reduced by a factor of 2.

10. ................. more to come here ...............


8. Ultimate Target: US$1 000 000 (Equity).
"

I am wondering about a few things.

1) Based on your level of experience it's ok to have:

1. Dream Level: DL5 (10% monthly compound rate).

4. Assigned Risk Per Trade (Max.): 5%

5. Assigned Risk Per Account (Max.): 15%

6. Drawdown (Max DD): 30%

7. Peak To Trough (Equity-Max.): 30%

Should a new trader, just finishing a 3 months demo period try the same or it would be better to start the other way, from bottom to the top?

1) DL1
2) Assigned Risk Per Trade (Max.): 1%
3) Assigned Risk Per Account (Max.): 3%
4)Drawdown (Max DD): 10%
5) Peak To Trough (Equity-Max.): 10%

and then try to increase after 3 months if results look favorable?
Forex - It's finger lickin' good
  • #3,057
  • Dec 28, 2018 2:33pm Dec 28, 2018 2:33pm
Quoting pipsandkfc
An update to post 1 has been made: "Account #2 (MT5) 1. Dream Level: DL5 (10% monthly compound rate). 2. Invested Capital (initial): US$1000 (January 7, 2019). 3. Deposit Timeline: Deposit 1 : US$1000 on Monday February 4, 2019; Deposit 2 : US$1000 on Monday March 4, 2019; Deposit 3 : US$1000 on Monday April 1, 2019; Deposit 4 : US$1000 on Monday May 6, 2019; Deposit 5 : US$1000 on Monday June 3, 2019; Deposit 6 : US$1000 on Monday July 1, 2019; Deposit 7 : US$1000 on Monday August 5, 2019; Deposit 8 : US$1000 on Monday September 2, 2019; Deposit...
That Trade Plan refers to Account #2 (MT5) that I will be trading and represents what I would consider as a possible yet rather 'risky' plan.

The monthly compound rates all stem from 1K start capital and a 1M target over 4 year (10% MoM) to 10 year (2.84% MoM) periods of time.

Ofcourse gaining 10% during any given month is quite achievable however, it is the consistency which is far more difficult.

The purpose of the DL5 real trading account is to show a fully transparent attempt and all the issues surrounding such an attempt.

This account commences from the 'highest self structured level' but if it fails to meet the 'criteria' then it will drop a level as outlined in Post 1 (yet to be finished).

Post 1 has not yet been completed and there is much more information to come.

"10. ................. more to come here ............... "

Yet to be posted are the lot ranges for all 5 DL's, variation criteria and the risk warning for all traders.

Traders must choose their own risk levels but my advise would be to always start at the lowest possible risk and based on 'successful trading performance' consider minimal increases in trading volume in consideration of overall trading risk.

Masterrmind.............
Master your Mind then Master your Trades
  • #3,058
  • Dec 29, 2018 7:27am Dec 29, 2018 7:27am
Quoting Masterrmind
{quote} That Trade Plan refers to Account #2 (MT5) that I will be trading and represents what I would consider as a possible yet rather 'risky' plan. The monthly compound rates all stem from 1K start capital and a 1M target over 4 year (10% MoM) to 10 year (2.84% MoM) periods of time. Ofcourse gaining 10% during any given month is quite achievable however, it is the consistency which is far more difficult. The purpose of the DL5 real trading account is to show a fully transparent attempt and all the issues surrounding such an attempt. This account...
Got it, thank you for the input on the matter.

Also I noticed that first post has been updated again with the other trading aspects:

"10. Max Lot Size (per trade) and Recommended Volume Ranges:

a) Max Lot Size = Equity/10000
b) Recommended Volume Range = [Equity/100000 to Equity/20000]

If Equity >= 1000 then Max Lot Size = 0.10 lots --> recommended [0.01 to 0.05]

1K Equity (Max Lot Size = 0.10)
Trade 1 @ 0.01
Trade 2 @ 0.02
Trade 3 @ 0.03
Trade 4 @ 0.04
Trade 5 @ 0.05
Tot. Volume = (0.01 + 0.02 + 0.03 + 0.04 + 0.05) = 0.15 (1.5* Max Lot Size).

If Equity >= 2000 then Max Lot Size = 0.20 lots --> recommended [0.02 to 0.10]

2K Equity (Max Lot Size = 0.20)
Trade 1 @ 0.02
Trade 2 @ 0.04
Trade 3 @ 0.06
Trade 4 @ 0.08
Trade 5 @ 0.10
Tot. Volume = (0.02 + 0.04 + 0.06 + 0.08 + 0.10) = 0.30 (1.5* Max Lot Size).

If Equity >= 3000 then Max Lot Size = 0.30 lots --> recommended [0.03 to 0.15]

3K Equity (Max Lot Size = 0.30)
Trade 1 @ 0.03
Trade 2 @ 0.06
Trade 3 @ 0.09
Trade 4 @ 0.12
Trade 5 @ 0.15
Tot. Volume = (0.03 + 0.06 + 0.09 + 0.12 + 0.15) = 0.45 (1.5* Max Lot Size).

If Equity >= 4000 then Max Lot Size = 0.40 lots --> recommended [0.04 to 0.20]

4K Equity (Max Lot Size = 0.40)
Trade 1 @ 0.04
Trade 2 @ 0.08
Trade 3 @ 0.12
Trade 4 @ 0.16
Trade 5 @ 0.20
Tot. Volume = (0.04 + 0.08 + 0.12 + 0.16 + 0.20) = 0.60 (1.5* Max Lot Size).

If Equity >= 5000 then Max Lot Size = 0.50 lots --> recommended [0.05 to 0.25]

5K Equity (Max Lot Size = 0.50)
Trade 1 @ 0.05
Trade 2 @ 0.10
Trade 3 @ 0.15
Trade 4 @ 0.20
Trade 5 @ 0.25
Tot. Volume = (0.05 + 0.10 + 0.15 + 0.20 + 0.25) = 0.75 (1.5* Max Lot Size).

...
...

If Equity >= 10000 then Max Lot Size = 1.0 lots --> recommended [0.10 to 0.50]

10K Equity (Max Lot Size = 1.0)
Trade 1 @ 0.10
Trade 2 @ 0.20
Trade 3 @ 0.30
Trade 4 @ 0.40
Trade 5 @ 0.50
Tot. Volume = (0.10 + 0.20 + 0.30 + 0.40 + 0.50) = 0.75 (1.5* Max Lot Size).

If Equity >= 20000 then Max Lot Size = 2.0 lots --> recommended [0.25 to 1.25]

20K Equity (Max Lot Size = 2.0)
Trade 1 @ 0.25
Trade 2 @ 0.50
Trade 3 @ 0.75
Trade 4 @ 1.00
Trade 5 @ 1.25
Tot. Volume = (0.25 + 0.50 + 0.75 + 1.00 + 1.25) = 3.00 (1.5* Max Lot Size).

If Equity >= 30000 then Max Lot Size = 3.0 lots --> recommended [0.30 to 1.50]

30K Equity (Max Lot Size = 3.0)
Trade 1 @ 0.30
Trade 2 @ 0.60
Trade 3 @ 0.90
Trade 4 @ 1.20
Trade 5 @ 1.50
Tot. Volume = (0.30 + 0.60 + 0.90 + 1.20 + 1.50) = 4.50 (1.5* Max Lot Size).

If Equity >= 40000 then Max Lot Size = 4.0 lots --> recommended [0.40 to 2.00]

40K Equity (Max Lot Size = 4.0)
Trade 1 @ 0.40
Trade 2 @ 0.80
Trade 3 @ 1.20
Trade 4 @ 1.60
Trade 5 @ 2.00
Tot. Volume = (0.40 + 0.80 + 1.20 + 1.60 + 2.00) = 6.00 (1.5* Max Lot Size).

If Equity >= 50000 then Max Lot Size = 5.0 lots --> recommended [0.50 to 2.50]

50K Equity (Max Lot Size = 5.0)
Trade 1 @ 0.50
Trade 2 @ 1.00
Trade 3 @ 1.50
Trade 4 @ 2.00
Trade 5 @ 2.50
Tot. Volume = (0.50 + 1.00 + 1.50 + 2.00 + 2.50) = 7.50 (1.5* Max Lot Size).

...
...

If Equity > 100000 then Max Lot Size = 10.0 lots --> recommended [1.00 to 5.00]

100K Equity (Max Lot Size = 10.0)
Trade 1 @ 1.00
Trade 2 @ 2.00
Trade 3 @ 3.00
Trade 4 @ 4.00
Trade 5 @ 5.00
Tot. Volume = (1.00 + 2.00 + 3.00 + 4.00 + 5.00) = 15.0 (1.5* Max Lot Size).

This is a guideline only and traders are encouraged to modify the plan to fit within their own preferred risk tolerance levels.

The above plan will be very close to how I will trade the real DL5 account with any alterations outlined in the thread.

"
Forex - It's finger lickin' good
  • #3,059
  • Dec 29, 2018 7:29am Dec 29, 2018 7:29am
Another question comes to mind while reading various forex articles to prepare for the journey.

Is it true that most of the time trend changes occur when there is fundamentals pointing in this direction and in the other cases it's just corrections?
I know it can't be a firm answer since everything is relative but based on your experience would you say this is true?

Also, any other aspects the journey followers must do, learn before beginning? It's still a few days left so maybe this time could be put to use?
I've just reviewed old charts and trying to understand why things move up or down
Forex - It's finger lickin' good
  • #3,060
  • Dec 29, 2018 10:51pm Dec 29, 2018 10:51pm
Quoting pipsandkfc
Another question comes to mind while reading various forex articles to prepare for the journey. Is it true that most of the time trend changes occur when there is fundamentals pointing in this direction and in the other cases it's just corrections? I know it can't be a firm answer since everything is relative but based on your experience would you say this is true? Also, any other aspects the journey followers must do, learn before beginning? It's still a few days left so maybe this time could be put to use? I've just reviewed old charts and trying...
A single post reply to your trend question really would not do it any justice.

Trend depends much on the set criteria, the period of time under consideration and many other factors.

In fact if you were to consider a D1 TF and 2 price levels and noted that price moved up in waves with pullbacks remaining above the lower price level you might assume that the trend is up.

But is it ?

You now consider a W1 TF for the same 2 price levels and all of a sudden you start thinking that the trend is now down.

What you have to do is choose a TF say D1 and make your trend calls on this TF only.

Using W1 and MN1 TFs is ok for S&R levels but always focus on the TF you will be taking trades off for trend considerations.

Fundamentals, ongoing economic data, central bank influence, political influence and the flow of money into and out of a given market is what drives trend but it is far from a simple matter to analyze.

One of a traders biggest problems is continually lagging behind the catalysts that move price.

We never know who will drop the next yard on a given market, when it will occur or in what direction nor do we know the sequence of future orders or positions.

Many have tried to conquer the impossible but all have failed.

Only solution is an infinite account balance and no person or entity nor country has this luxury.

In short, don't worry too much about trend until you have defined it as relating to your own trade setup.

The Master Octive Grid will take care of that problem for you since if you are wrong about trend direction or extent of a pullback your SL will minimize your loss based on risk parameters and valid stop placements.

I would suggest traders interested in the 'journey' to read Post 1, go through my examples of trade setups for both shorter term cycles of trades and longer term cycles of trades making sure they understand the risk part.

Be aware though that the DL5 account will be traded aggressively at times and with aggression comes a greater chance of having larger losses.

Nevertheless, I am trading this DL5 account as an example to show traders how I deal with losses and how I go about recovering any episodes of drawdown including how I seek to accelerate account growth in an aggressive but controlled manner.

I would hope that traders take notes, ask questions and quiz me on my choices of trade setups.

Masterrmind........
Master your Mind then Master your Trades
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